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HSBC rules out Europe acquisitionsHSBC said it had no appetite to take advantage of turmoil in the euro zone and make big acquisitions there or anywhere else where rivals are selling major assets. "We're good at running our own businesses, we're not so good at making acqui More… |
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RBI pledges push to halt rupee slideIndia's central bank promised yesterday to use "all its available tools" to stabilise the rupee, which sank to a record low against the dollar for a third straight day amid turmoil in global markets. The Indian unit fell to 54.91 against t More… |
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Obama warns market turmoil may continueUS President Barack Obama on Wednesday said he was deeply concerned about the euro zone crisis and market turmoil would continue until Europe has a concrete plan to deal with its sovereign debt woes. Obama's comments added to a chorus More… |
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UK 'can still avoid recession'Britain can still avoid a renewed recession despite the deepening turmoil in the euro zone, a leading business lobby said on Wednesday, though the weak recovery will drive up unemployment over the coming year. While the group suggested a More… |
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Global stocks plummet over turmoilRenewed worries about Europe's ability to resolve its debt crisis punished the euro and world stock markets yesterday. Wall Street tumbled more than two per cent. The euro hit six-and-half-month lows against the US dollar on nervousnes More… |
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Mideast growth prospects 'unaffected'Political turmoil gripping Arab states that has pushed investors to step back in apprehension has not dampened the Middle East's growth prospects, the regional head of the World Bank's private-sector lender said. Uprisings that toppled the More… |
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Bahrain forum to probe GCC financial challengesChallenges facing the GCC financial markets in the wake of the current global turmoil will be discussed at a major conference in Bahrain. Under the patronage of Prime Minister Shaikh Khalifa bin Salman Al Khalifa, the ninth GCC Banking Con More… |
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Indian economy grows 7.6pc despite turmoilIndia's economy expanded by an unexpectedly strong 7.6 per cent in the three months to September despite the global slowdown, official data showed. Analysts had forecast Asia's third-largest economy would grow by around 7.3pc in th More… |
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Turmoil may 'usher in new regulations'In the wake of the global economic downturn the world will probably adopt a bit too much regulations, Bahrain Finance Minister Shaikh Ahmed bin Mohammed Al Khalifa told delegates at a financial conference. Speaking at the opening of the tw More… |
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GCC will withstand global turmoil says reportThe GCC economies, although not unaffected by the recent turmoil in global markets, will withstand the challenges posed by the crisis, says a report. The region’s macroeconomic outlook will remain solid going forward despite a global econo More… |
